Occupy Wall Street has camped out at Zucotti Park in Lower Manhattan for weeks, but it probably isn't reaching as many bankers as it could. Which could have something to do with the fact that finance is no longer the area's biggest tenant.
Under the proposed terms of the settlement -- which could total $25 billion -- banks would get a broader relief from potential state civil lawsuits in exchange for refinancing underwater loans, those mortgages where borrowers owe more than their homes are worth, sources said.
Citigroup Inc will pay $285 million to settle charges that its U.S. broker-dealer unit misled investors about a $1 billion mortgage bond deal, the U.S. Securities and Exchange Commission said on Wednesday.
Gold could fall below $1,500 an ounce in the near term, as bullion has underperformed other assets and appears to have lost its safe-haven appeal, CitiFX said on Tuesday.
Gold prices held steady on Wednesday, shrugging off the downgrade of Spain's sovereign credit rating, as investors wait for clarity on Europe's plans to tackle the debt crisis at this weekend's European Union summit.
Gawker posted Goldman Sachs CEO Lloyd Blankfein's cell phone number on its website, figuring the CEO might like some sympathy after revealing huge quarterly losses Oct. 18 to the tune of $428 million.
Freeport-McMoRan Copper & Gold is considering shutting down its strike-hit Grasberg mine as one of several contingency plans if security does not improve, as it struggles with one of the worst labor disruptions in Indonesia's mining industry.
Gold demand in India, the world's largest bullion buyer, will be strong in the October-December quarter, a traditional time for festivals and weddings, despite high inflation that eats into savings and multiple growth-choking central bank rates hikes.
Officials and big banks are working on a plan that would make refinancing available to some borrowers whose houses are worth less than their loans, so long as they are current on mortgage payments, the Wall Street Journal reported.
Stocks suffered their worst loss in two weeks on Monday after comments from Germany's finance minister caused investors to fear Europe's solution to its debt crisis may not come fast enough.
According to an AFL-CIO report, Immelt made about $15.2 million last year.
U.S. stock index futures were little changed on Monday after the market's best two-week run since 2009 as Germany's finance minister said a forthcoming European summit would not yield a definitive solution to the region's debt crisis as many investors had hoped.
Freeport McMoRan Copper & Gold Inc. halted copper and gold production on Monday at its giant Grasberg mine in Indonesia because of security fears and worker blockades, in the worst supply disruption since a strike began a month ago.
Stock futures pointed to a higher open for equities on Wall Street on Monday after strong gains in the previous session, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 up 0.7 to 0.9 percent.
Shares in Olympus Corp plunged 22 percent on Monday after media reports quoted its ousted chief executive as accusing the board of firing him for probing allegations of improper payments related to acquisitions.
With one-third of the Dow components and crowd favorite Apple reporting results next week, U.S. stocks are setting the stage for another week of gains.
Goldman Sachs Group Inc. will likely record a loss in the third quarter, only the second quarterly loss in the Wall Street titan's history, hurt by weakness across trading and investment banking, equity market declines and wider credit spreads during the period, Citigroup said.
A clash between striking workers and police near Freeport McMoRan's Indonesian copper mine killed one protestor and injured others, complicating a pay dispute that appears far from being resolved.
Shares of Illumina Inc (ILMN.O) fell 35 percent and dragged down its peers on Friday, a day after the maker of genetic analysis tools forecast a weak third quarter on uncertainty related to research funding in the United States and Europe.
Indictments of 111 people were handed up Friday in one of the largest identity-theft busts of its kind in the U.S., with thousands of victims in Europe, the Middle East, and China. Thus far, 86 people are in custody and the rest are being sought.
California Attorney General Kamala Harris remains open to a deal with large U.S. banks in multi-state mortgage negotiations provided it involves a stronger proposal from lenders, the Wall Street Journal reported.
California Attorney General Kamala Harris remains open to a deal with large U.S. banks in multi-state mortgage negotiations provided it involves a stronger proposal from lenders, the Wall Street Journal reported.
